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KD Holding Group
Consolidated Financial Statements as at and for the year ended 31 December 2007
Consolidated income statement
(in EUR) Note 2007 2006
Insurance premium revenue 305,052,580 262,823,197
Insurance premium ceded to reinsurers (10,293,797) (9,549,683)
Net insurance premium revenue 22 294,758,783 253,273,514
Investment income 24 13,844,863 14,401,754
Net gains on available-for-sale financial assets 25 24,197,926 17,339,348
Impairment of available-for-sale financial assets 25 (2,596,286) (9,633,386)
Net gains / (losses) on assets at fair value through profit and loss 26 21,240,218 18,425,773
Net financial income 56,686,721 40,533,489
Sales of goods and services 22 77,232,270 55,463,925
Other operating income 22 26,964,325 15,812,224
Other income 104,196,595 71,276,149
Insurance contracts benefits and claims 23 (243,398,171) (190,394,487)
Insurance contracts benefits and claims, recovered from reinsurers 11,584,697 4,051,152
Net insurance contracts benefits and claims (231,813,474) (186,343,335)
Raw materials and consumables used 23 (7,184,227) (5,038,503)
Costs of services (84,724,041) (75,887,790)
Employee benefits expense 23 (59,250,777) (50,056,653)
Depreciation and amortisation expense 23 (8,215,555) (6,917,704)
Other insurance expenses 23 (7,248,001) (4,567,005)
Other expenses 23 (14,337,515) (6,408,821)
Other costs (180,960,116) (148,876,476)
197
Operating profit 42,868,509 29,863,341
Finance costs 27 (6,552,633) (5,513,800)
Share of profit of associates 10 11,141,024 4,372,830
4,588,391 (1,140,970)
Profit before income tax 47,456,900 28,722,371
Income tax expense 28 (12,511,316) (7,845,602)
Net profit for the year 34,945,584 20,876,769
Attributable to:
Equity holders of the Company 33,059,887 18,569,269
Minority interest 1,885,697 2,307,500
34,945,584 20,876,769
Earnings per share for profit attributable to the equity holders
of the Company during the year (expressed in EUR per share)
- basic and diluted 29 12,38 6,95